Richard Threlfall, KPMG’s Head of Infrastructure, Building and Construction comments on the Chancellor’s budget announcement: “In a budget disappointingly short on anything new on infrastructure, the one bright spot was the announcement that the Government will commit £100m to Greater Cambridge to support investment especially into housing and transport infrastructure.
“This agreement could be worth up to £500 million over 15 to 20 years, dependent on the economic impact of the investments and, in addition to Greater Cambridge’s own plans, could deliver over £1 billion of infrastructure investment in the Greater Cambridge area."
“Cambridge has an abundance of successful businesses and start-ups and access to a large pool of skilled employees but there is a growing need for investment in transport infrastructure to support high quality economic and housing growth over the coming decades. It is fantastic to see recognition coming to Cambridge for the amazing ecosystem of successful large, small and start up businesses that operate here. Together with the Higgins report earlier this week, it is further evidence of the growing recognition of the linkage between well planned infrastructure and growth."
“The Cambridge deal is the latest step in the Government’s City Deal programme, which is gradually devolving more power to local city regions. Following the precedent set by the deal with Manchester last year, the Cambridge deal puts central Government money on the table, in recognition that the whole country benefits through greater tax revenue if major city regions drive their own economic growth."
- ENDS -
For further information please contact:
Katrin Boettger, KPMG Corporate Communications
M: 07824 475 168
KPMG Press office: +44 (0)207 694 8773
Follow us on twitter: @kpmguk #budget2014
Chancellor’s Budget 2014
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.